PETALING JAYA: Can-One Bhd
’s wholly owned subsidiary, Can-One International Sdn Bhd, yesterday entered into a conditional share sale agreement with Kian Joo Holdings Sdn Bhd for the proposed acquisition of 146.13 million shares in its unit, Kian Joo Can Factory Bhd for RM241.12mil.
Can-One told Bursa Malaysia it had paid RM19.11mil on the date of the agreement, on top of its earlier deposit of RM5mil to Kian Joo. It would pay the balance RM217.01mil on the completion date, it said. The acquisition was expected to be funded by internally generated funds and borrowings, it added.
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